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Cipher Mining Inc. (CIFR) Increases Despite Market Slip: Here's What You Need to Know
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In the latest trading session, Cipher Mining Inc. (CIFR - Free Report) closed at $4.38, marking a +1.39% move from the previous day. The stock's change was more than the S&P 500's daily loss of 0.76%. Elsewhere, the Dow lost 0.75%, while the tech-heavy Nasdaq lost 1.01%.
The the stock of company has risen by 43.52% in the past month, leading the Business Services sector's gain of 3.52% and the S&P 500's gain of 4.31%.
Investors will be eagerly watching for the performance of Cipher Mining Inc. in its upcoming earnings disclosure. On that day, Cipher Mining Inc. is projected to report earnings of -$0.06 per share, which would represent year-over-year growth of 14.29%. In the meantime, our current consensus estimate forecasts the revenue to be $28.81 million, indicating a 4.92% decline compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.05 per share and a revenue of $154.1 million, indicating changes of +50% and +21.49%, respectively, from the former year.
Any recent changes to analyst estimates for Cipher Mining Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 10% increase. Cipher Mining Inc. is currently a Zacks Rank #3 (Hold).
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 77, placing it within the top 31% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Cipher Mining Inc. (CIFR) Increases Despite Market Slip: Here's What You Need to Know
In the latest trading session, Cipher Mining Inc. (CIFR - Free Report) closed at $4.38, marking a +1.39% move from the previous day. The stock's change was more than the S&P 500's daily loss of 0.76%. Elsewhere, the Dow lost 0.75%, while the tech-heavy Nasdaq lost 1.01%.
The the stock of company has risen by 43.52% in the past month, leading the Business Services sector's gain of 3.52% and the S&P 500's gain of 4.31%.
Investors will be eagerly watching for the performance of Cipher Mining Inc. in its upcoming earnings disclosure. On that day, Cipher Mining Inc. is projected to report earnings of -$0.06 per share, which would represent year-over-year growth of 14.29%. In the meantime, our current consensus estimate forecasts the revenue to be $28.81 million, indicating a 4.92% decline compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.05 per share and a revenue of $154.1 million, indicating changes of +50% and +21.49%, respectively, from the former year.
Any recent changes to analyst estimates for Cipher Mining Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 10% increase. Cipher Mining Inc. is currently a Zacks Rank #3 (Hold).
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 77, placing it within the top 31% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.